Having a business you own fail is one of the most stressful things you will go through in your life. When this occurs, you lose your job, your source of income, the entity you identify yourself with, and in most instances, the savings and equity that you built up in the company.
I want you to know that there is always tomorrow and things will get better for you. My experience shows that the lessons you learn from a failed business are a great asset as you move into the next phase of your career.
When my logistics company failed, I began networking for a general or store manager position. A CPA I knew told me about a construction company owner who needed someone to help him get a handle on the financial position of his company. This owner also needed someone to run the day-to-day administrative and financial operations of his company. The job functions the CPA described to me was very similar to tasks I routinely performed at my company.
I met with the owner of the construction company to discuss the needs he had. At the end of the conversation, the owner offered me the Chief Financial Officer position at his company.
The experience I gained while owning my company helped me to excel as the financial manager of this firm. Becoming a CFO became the foundation for me becoming a CPA and the creation of CPA for Small Business, LLC.
I’m having more fun now than I did when I owned the logistics company. It is very fulfilling to know that I have made a difference in client’s lives and in their company’s performance.